Registered number
05883938
WYCHWELL LIMITED
Filleted Accounts
30 June 2023
WYCHWELL LIMITED
Registered number: 05883938
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 39,927 49,185
Current assets
Debtors 4 5,476 5,476
Cash at bank and in hand 34,867 15,777
40,343 21,253
Creditors: amounts falling due within one year 5 (22,179) (18,342)
Net current assets 18,164 2,911
Total assets less current liabilities 58,091 52,096
Creditors: amounts falling due after more than one year 6 (22,994) (36,776)
Net assets 35,097 15,320
Capital and reserves
Called up share capital 2 2
Profit and loss account 35,095 15,318
Shareholders' funds 35,097 15,320
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D L Smith
Director
Approved by the board on 4 March 2024
WYCHWELL LIMITED
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property improvements 20% per annum of net book value
Plant and machinery 20% per annum of net book value
Motor vehicles 20% per annum of net book value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Property Improvements Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 4,000 78,666 38,999 121,665
Additions - 726 - 726
At 30 June 2023 4,000 79,392 38,999 122,391
Depreciation
At 1 July 2022 2,952 61,728 7,800 72,480
Charge for the year 210 3,534 6,240 9,984
At 30 June 2023 3,162 65,262 14,040 82,464
Net book value
At 30 June 2023 838 14,130 24,959 39,927
At 30 June 2022 1,048 16,938 31,199 49,185
4 Debtors 2023 2022
£ £
Other debtors 5,476 5,476
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,753 10,756
Trade creditors 463 132
Accruals and deferred income 1,224 1,080
Taxation and social security costs 8,739 6,374
22,179 18,342
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,728 23,481
Directors loans 11,266 13,295
22,994 36,776
7 Events after the reporting date
There were no material post balance sheet events up to the 4th March 2024, being the date of approval of the financial statements by the board of directors.
8 Other information
WYCHWELL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Wychwood, Woodside Lane
Wistaston
Crewe
Cheshire
CW2 8AJ
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